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First Security Bank & Trust Company

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Description

First Security Bank & Trust Company offers comprehensive SBA lending services tailored to small businesses seeking financial support for growth, expansion, or operational needs. With a focus on small business financing, the bank provides access to various SBA loan programs, including the popular 7(a) loan program, which is ideal for a wide range of business purposes such as working capital, equipment, and real estate. Located in Charles City, IA, this bank has a strong history of supporting local entrepreneurs and small business owners by providing flexible loan options and personalized service. Their experienced lending team works closely with clients to understand their unique needs and help navigate the application process efficiently. The bank’s commitment to small business success is reflected in their ability to approve substantial loan amounts, with the largest recorded approval reaching $149,500. Whether you’re starting a new venture or expanding an existing business, First Security Bank & Trust Company aims to serve as a reliable financial partner, offering tailored solutions to meet your specific goals and challenges.

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Q&A

Lender Type
Commercial Bank
Google Rating
3.9
Google Review Count
33
Question 1
What is this place and what can I find here?
Answer 1
This is a local bank that offers SBA loan programs and small business financing solutions, helping entrepreneurs grow and succeed in their ventures.
Question 2
Do I need an appointment or can I walk in?
Answer 2
You can walk in during business hours or schedule an appointment for a more personalized consultation with their lending team.
Question 3
What are the hours of operation?
Answer 3
The bank operates Monday through Friday from 8:30 AM to 4:30 PM, but hours may vary, so it"s best to call ahead.
Question 4
Is there a fee to use this?
Answer 4
There are no fees for initial consultations; loan-related fees are disclosed during the application process and depend on the specific loan terms.
Question 5
Who is this open to — anyone, or only residents/members?
Answer 5
This bank primarily serves small business owners and entrepreneurs in the Charles City area, but they welcome qualified applicants from the region.
Question 6
What minimum personal credit score does this bank look for in a guarantor?
Answer 6
A minimum personal credit score of around 640 is typically preferred, though approval depends on overall financial health and collateral.
Question 7
How long does the traditional underwriting process take from start to close?
Answer 7
The underwriting process usually takes 30 to 45 days, depending on the completeness of the application and the complexity of the loan.
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